Tags: Retirement | retirement | reasons | planner

4 Reasons You Need a Retirement Planner

By    |   Saturday, 13 June 2015 06:32 PM

Some investors are diligent in doing proper research and can help themselves invest without the help of a retirement planner. But many analysts say having someone skilled and thoughtful in your corner can help you from making big mistakes and gain on your investments over time.

Here are four reasons why a retirement planner could be the right choice for you.

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1. You Could Be Earning More
You've been cautious and done your homework and feel your portfolio is diverse. But perhaps a consult with a certified financial planner could help you to earn even more on your investments. Often, small tweaks mean big savings or earning bounces. With laws changing and new products surfacing, the insight you get from a professional could make a bigger difference than you might think, CNN Money noted.

2. Grounding Your Lifestyle
A financial planner can help set reasonable goals for maintaining your lifestyle in retirement, Forbes notes. A rule of thumb is that you will need 80 percent of your current income as retirement income. Most people underestimate that. How you get there requires a strategy.

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3. Factoring in Health Care and Long-Term Care Needs
Many retirees do not realize how much of the healthcare costs they will need to fund in retirement. Some assume that their plans will cover them, but often premiums and co-pays are extreme. A financial planner can help a retiree gauge what to expect and seek out long-term care alternatives in advance, Forbes said.

4. Getting Couples on the Same Retirement Page
A financial planner can circle the wagons for a husband and wife, creating a long-term vision that puts their assets, needs and retirement goals on the same page, USA Today reported. Having a plan in place is essential.

"A good planner will help you figure out if you want to stay in your house, how much it will take to travel (if that's your goal) and when is the best time to take Social Security. But they also might tell you that you can't afford to retire because you haven't saved enough money. In any event, you'll know where you stand," wrote Rodney Brooks, deputy managing editor for USA Today, Money.

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Some investors are diligent in doing proper research and can help themselves invest without the help of a retirement planner. But many analysts say having someone skilled and thoughtful in your corner can help you from making big mistakes.
retirement, reasons, planner
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2015-32-13
Saturday, 13 June 2015 06:32 PM
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